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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,720 posts, read 58,054,000 times
Reputation: 46185
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Housing vs. % of income?
Housing is about 10x my income.
Medical is (was) way more.
% of budget... ?? too much for each (housing and healthcare) These are 'useless expenses' to me.
Kinda stinks that our property taxes went from a digestible $3/ day to over $40 / day (same home, no improvements, just more worn out). Which made me change my retirement investment allocations to generate enough cash to pay taxes. Eventually the tax assessor will win (as usual). We live in a 'US National protected' are, so if we leave, we can never replace or come back. So we stay and enjoy the view whil ethe finds hold out. (cash flows).
Healthcare Insurance did similar increase but worse. So we went without, but now on ACA subsidy. Income MUST stay below housing costs to keep subsidy.
Housing costs in general... (as a retiree) .. mixed bag. I would say keep it low! (I don't consider a home in NW or as an asset, tho built for under $100k and now worth $1m, it will go to charity).
Some like to stay home, some like to travel, some RV full time.
If I had it my way... housing costs would be ZERO. (barter)
I would live at a beautiful youth camp on coast or in mtns, and trade 'fix-it' services for free housing (off season). (BTDT internationally), should work fine in any country... except 'nosy' places like Singapore! who need to know your whereabouts every minute.
Hope to find just the right spot by age 80. (a couple decades away).
Long term, I hope to be in a rural senior cottage community (owned by residents). Targeting $100k or equivalent for this 'final' solution.
% of income? probably <10%
Every property I own MUST be capable of spinning off 10% net of capital cost, or it is an anchor, not a sail.
That includes: property taxes (by far the largest item; it includes garbage pickup 3x weekly), security system monitoring, electricity, public water, heating oil (based on 2018 amount, obviously this fluctuates a bit from year to year), lawn cutting for 6 months of the year, homeowners insurance, service contract on central air, and service contract on heating system.
I'm on a family share plan with my son and DIL so my cell phone only costs me $300/year (owned phone.)
Internet + the least expensive cable tv bundle is $1700/year though (about $132/month.)
Neither of those items are included in the 36%. But if they were included, the percentage would rise to 41%.
My property taxes will rise noticeably in 2020 because I will be losing an exemption that I have had the benefit of for the past five years. So depending on what the SS benefit does, the percentage may remain essentially the same (36% to 41%) or may inch up a couple of percentage points. No mortgage, thank goodness. The taxes are more than enough of a burden here.
Car insurance not factored in, because I would have that expense no matter what kind of housing I lived in.
12% right now in a rental and will jump to 20% when we close on a house. At 20%, it still feels very comfortable and we will be paying extra towards the principal every month.
About 12%. No mortgage and debt free. Largest monthly expenses are $200.00 gas and electric (includes HVAC), $160.00 for Internet, cable TV, and landline. $150.00 per month real estate and property taxes. $80.00 per month sewage and water. $70.00 per month HOA Dues which includes landscaping. $90.00 per month for maid service.
My largest non-household monthly expense is golf which averages about $450.00 per month.
I live a very comfortable lifestyle and I am far from frugal. My girlfriend teases me and says you can get all this from Walmart at 1/2 the price of Bed, Bath, and Beyond.......LOL
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16698
About 7% with a mortgage..
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